The current status of MEME coin development on Virtual

Since Virtual launched the Genesis Launches platform, although there are some projects that look unreliable at first glance, there are not many projects that directly issue meme coins, and even if there are, they are projects that look inferior at first glance.

Until a few days ago, this phenomenon was broken---A well-known AI Agent Vader that the launch platform has been cooperating with began to directly issue the meme coin VIRGEN it created on it.

The special thing about this meme coin is that it is an open meme coin publicly issued by a well-known team.

Although it is a meme coin, it still shows its friendliness to the community in terms of its issuance mechanism: in addition to a part of all issued tokens for pre-sale and a part for liquidity, a considerable part of them are taken out for airdrops to pledge users of the Virtual ecosystem and some users who hold classic meme coins.

In addition to the special issue mechanism, this token is different from other pre-sale tokens in one aspect: it has no lock-up period. This means that if the sale is successful, the token will have a higher premium as soon as it goes online, and users who participated in the sale can sell it immediately without restriction to make a profit---this is what many participants have always dreamed of.

This makes many users speculate whether the token will plummet immediately after the sale.

Despite various speculations and concerns, many users still participated in the sale and the sale was successful.

Surprisingly, the token did not plummet as everyone worried after it went online, but continued to rise all the way.

In terms of the team, in addition to the airdrop announced in the pre-sale, airdrops were also issued to users who participated in the token pre-sale and did not sell it, and then continued to repurchase tokens in the market with the profits obtained.

After this operation, the token immediately established its unique image and became the first meme coin in the Virtual ecosystem.

After the successful meme coin, a new meme coin NOTHING appeared in the ecosystem. However, this meme coin is not just a meme. Its team has also given it a very direct purpose: "permanently" lock the token so that participants who pledge it can continue to "permanently" obtain points for participating in the platform's sale.

NOTHING was also successfully sold, and two additional airdrops were carried out, exceeding people's previous expectations of this token.

The reason why these two meme coins can be successfully sold in the current context of the proliferation of memes is, in my opinion, on the one hand, because they have some generous operations in terms of mechanism; on the other hand, because the actions of the teams behind them are obviously different from most meme coins that are purely profit-making.

But such operations are difficult to replicate, and such teams are rare.

Therefore, with these two successful cases, I was thinking: Genesis Launches is, after all, a permissionless launch platform, and anyone can launch a project on it. These two successful cases will definitely attract a group of projects of varying quality, destroying the ecological atmosphere and creating a situation where "one bad apple spoils the whole pot of porridge".

If so, wouldn't this platform become a pump.fun again?

If Virtual becomes the second pump.fun, it is very likely that it will not go far.

To change this situation, the easiest way is for the team to directly change the rules and use additional constraint mechanisms to restrict such projects. However, if the team fails to grasp the right measure, it will easily make the team extend its hands further and further, become in charge of everything, and eventually control everything to death, making the platform completely lose its vitality.

The best way is to continue to allow projects (including good and bad projects) to be issued without permission, but let the market mechanism itself eliminate inferior projects. If the Virtual ecosystem can form such a benign market mechanism, it can create its unique culture and atmosphere, and even make this mechanism and atmosphere its strong moat.

But the key to forming such a mechanism and atmosphere is still a group of high-quality participants who can consciously exclude bad projects through actions.

Therefore, I have been paying close attention to the projects that will be launched next.

Sure enough, several uncreative and purely empty meme coins were issued on the platform. Although the first one was successfully sold, the price plummeted after the token was launched. The following ones were directly rejected by the market.

Seeing this situation, I felt a little relieved.

I hope this atmosphere and mechanism can continue, so that Virtual can become a platform completely different from pump.fun.